robert's blog

Many small businesses will do their own bookkeeping/accounting and often with little expertise. The excerpt below highlights the common mistakes to avoid.

This post consists of the top 10 bookkeeping mistakes made by small businesses which many will encounter at some stage of their life cycle. The excerpt is from an article that appeared on AllBusiness.com.

From one-person entities to major corporations, bookkeeping is a significant part of any business endeavor. While it is typically not one of the more glamorous jobs, bookkeeping is at the heart of a company's success, and errors can cost the company significantly. Below are 10 of the most common errors that you want to avoid.

Outsourcing a non core competency such as accounting has become an increasingly common trend for today's businesses. Virtual accounting is the newest model to traditional outsourced methods which is more cost effective and efficient driven by online technology. Although technology advanced having a virtual accountant is extremely easy to work with and below is an excerpt from an article by Christine Harrell that explains how virtual accounting is helping companies.

A high percentage of small to medium-sized businesses will look to grow sometime during their life cycle. Therefore it is important to know some of the new tax requirements that come with growth. In this post you will find some important information relevant to this which first appeared on the Small Business BC website.

Tax Requirements Change as Your Business Changes

As you build and grow your business, any number of events and activities can trigger new tax requirements. Here we show you what you need to consider as you grow your business.

Whether you area a small business or just a start up tax related questions will always arise. Below is some useful information I came across on the Small Business BC website that will help with such questions.

Know what is taxable income.

HST is a controversial topic and has been for some time. There are some views from people that this will provide many benefits and I’ve touched on this in earlier posts. But in reality this can be hard to believe with many questioning where these voiced benefits are coming from. Lu Wang of "The Province" newspaper has strong views on this and below is an excerpt from a recent writing.

“I'm so sick and tired of all these claims about supposed benefits of the HST. They're marketing propaganda ..”

With everyone being so serious about HST it was only fitting I came across this article shown below in “The Globe and Mail” newspaper by Dianne Nice. This bold look into ducking the harmonized sales taxman was an interesting read and some what controversial. Therefore I decided to make my own observation on Dianne’s tips.

1. Buy Now, Use Later
 

After treading through the internet recently looking for information related to HST and how Technology companies can prepare, I stumbled upon a descriptive article from KPMG. Prepared by Lesley Tela and Dianne Bomben below is an excerpt from that article summarizing some relevant points from the detailed piece.

Below is an excerpt from an article by Carl Beck, CMA, Sales Tax Advisor. This article underlines some of the benefits HST may bring to BC's construction industry. It is a detailed article with some interesting to questionable points on the benefits and how it may vary across the industry. The excerpt summarizes some of these points.

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